Market Data Expense Expert Hires New CEO

The Roberts Group has hired a former Omgeo executive as CEO to expand the company, which already helps buy-side and sell-side firms reduce market data expenses between 10% and 30%.

The Roberts Group, a provider of market data cost and inventory management solutions, has hired former Omgeo senior operating executive Steve Matthews as CEO of the company. Bringing a background in B2B technology and software-as-a-service (SaaS), Matthews is coming onboard to strengthen the firm’s management team further as it seeks rapid growth.

Matthews will be responsible for expanding the company's customer base and continuing to bring innovative client solutions to market, while maintaining the high quality of service. With firms spending significant sums on market data, TRG focuses on helping firms manage their market data inventory and associated expenses, which collectively has achieved client savings of hundreds of millions of dollars annually, the company said.

“The market opportunity for TRG is substantial, and the time is right to augment our leadership team with an individual who understands how to rapidly scale our business,” says Robert Leitner, co-founder, who becomes chairman of TRG’s board of directors. “Steve brings to our company a keen understanding of our platform and shares our vision, goals, and commitment to sustainable growth. I am looking forward to working directly with Steve and our board on a strategic level to continue to realize the substantial potential that presents itself to our company, our employees, and our customers.”

Matthews plans to apply his background in both front-end growth and back-end commercial operating capabilities to further building the TRG platform globally, according to the release. Most recently, he was chief operating officer at Omgeo, a market leader in post-trade processing, where he served as head of product and business development. He has also held senior management positions at EBS (now ICAP), an FX trading platforms and spent his early career in advisory and M&A with PwC. He is currently a member of the Mobiquity Advisory Board.

“I’m thrilled to be leading the team that will deliver the next generation of data tracking and spend intelligence to the financial industry,” he commented in a statement. “For 16 years, the company has delivered tremendous value to the market data and research community, with so much more opportunity upon which to build,” he said. Going forward, he added, “Customers can expect continual product enhancements accompanied by the outstanding service they have come to expect from TRG.”

TRG currently manages nearly $2 billion in expenses through its Financial Information Tracking System (FITS). For clients ranging from small private hedge funds to the largest global financial institutions, buy-side and sell-side, FITS can help reduce market data spend between 10% and 30%, claims the company. FITS is available as a secure, SaaS-delivered solution (FITS Online) or for internal installation. The company recently announced a strategic investment from Polaris Partners.

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